Alt-cap chart looks ready to pop 😮
Two-month log chart of the total crypto market cap without Bitcoin: candles have stair-stepped up since mid-2022 but keep stalling just under the $1.5T roof 📈
🔍 Bollinger Bands now pinch tighter than at any time since 2016, signalling stored energy. Altseason is possible.
Compression at the top of a long up-trend often resolves in trend direction. A close above $1.50T unlocks the triangle’s measured move to about $2.3T.
🔍 I expect the breakout to land within the next one or two candles (next 4 months). A decisive monthly close over $1.50T should mark the start of a fresh alt-season.